Japan’s leading financial group SBI Holdings has announced a partnership with Visa to introduce a new credit card program that allows users to earn cryptocurrency rewards on everyday purchases. Under the new scheme, every transaction made with the card will return rewards in Bitcoin (BTC), Ethereum (ETH), or XRP. Yoshitaka Kitao, Chairman and CEO of SBI Holdings, emphasized that with this move, the group aims to further integrate digital assets into daily spending routines.
Details of the crypto-reward credit card
With the launch of this card, standard users will be able to earn up to 2.5 percent of their spending as cryptocurrency cashback. Gold cardholders, depending on their spending and ongoing promotional conditions, can boost their rates up to 10 percent. According to the company’s statement, the BTC, ETH, and XRP earned will be transferred directly to users’ wallets, enabling seamless use on the blockchain.
This initiative comes as Japan undergoes a swift shift towards digital payments and is expected to further boost the public’s adoption of cryptocurrency. SBI Holdings has for years been recognized for its significant activities in the digital asset and blockchain sectors. Notably, XRP holds a central role in SBI’s financial ecosystem strategy.
XRP’s growing presence in Japan
Alongside the Visa partnership, SBI Holdings is reportedly in talks to acquire the Japanese cryptocurrency exchange Bitbank. Bitbank is a prominent crypto exchange in Japan and this potential move could accelerate consolidation within the crypto sector and strengthen market control in the country.
At the same time, interest in XRP has seen a substantial increase. With Rakuten Wallet deepening its integration of XRP, the volume of retail transactions using XRP is also rising. It’s estimated there are approximately 44 million Rakuten Pay users in Japan and close to $23 billion worth of reward points circulating within the system. Such a large-scale integration presents a significant real-world retail opportunity for XRP.
Market impact
Analysts suggest that the expansion of crypto reward programs for credit cards, combined with the integration of exchange infrastructure and retail payment systems, could transform XRP from merely a tradable asset into a practical tool for daily spending in Japan.
As XRP solidifies its usability across multiple platforms and payment networks, Japan is positioning itself as a pioneer for innovative cryptocurrency payment applications. SBI Holdings’ latest step is widely seen as a milestone for the industry.
Through our partnership with Visa, customers in Japan will be able to earn Bitcoin, Ethereum, and XRP with their purchases. This move gives a new dimension to the use of digital assets in everyday life, according to the company.
